Central Bank Hid Housing Market Crash Forecast
Financial elite covered-up imminent global housing collapse year before it happened
Paul Joseph Watson
Monday, June 14, 2010
New revelations concerning how the Irish Central Bank hid data in a 2006 report indicating that a housing market crash was imminent underscores once again how financial elites covered-up signs of the coming economic turmoil in order to exploit the crisis at the expense of the people.
Months before the Irish housing market started to crumble in early 2007, which was followed by a wider collapse in the UK property market, the Irish Central Bank buried data from a crucial report which suggested that a 15 per cent fall in house prices was around the corner.
“It was decided in 2006 to exclude from the main text of the report data and references to a likely 15 per cent house price overvaluation that was contained in a themed research paper,” states Professor Patrick Honohan’s report.
The Central Bank refused to release the minutes of the meeting where the report was discussed but then “deliberately” left out of the final review document.